ADB Helps Develop Uzbekistan's Largest Petchems Complex

3:05 AM MST | January 25, 2012 | Natasha Alperowicz

The Asian Development Bank (ADB; Manila) said today that it has approved a loan and political risk guarantees of up to $400 million to help build a previously announced petrochemical complex in Uzbekistan. The investor is Uz-Kor Gas Chemical (Tashkent), a joint venture owned by state-controlled Uzbekneftegaz and a consortium of Korean companies comprising Honam Petrochemical, Korea Gas Corp., and STX Energy. The Surgil natural gas chemicals project will produce gas for commercial use and for conversion into chemicals used in the plastics and textiles industries...